Skeena Intersects 14.73 g/t AuEq over 36.85 m at Eskay Creek

(firmenpresse) -
Vancouver, BC (January 14, 2020) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF) (Skeena or the Company - https://www.commodity-tv.com/play/skeena-resources-exploration-and-development-of-historic-gold-mine-deal-with-barrick/ ) is pleased to announce additional gold-silver drill results from the 2019 Phase I surface drilling program at the Eskay Creek Project (Eskay Creek) located in the Golden Triangle of British Columbia. Four surface drill rigs were utilized for the 2019 Phase I program in the 21A, 21E and HW Zones to infill and upgrade areas of inferred resources to the indicated classification. Drill hole results reported in this release are from the 21A, 21E and HW Zones. Reference images are presented at the end of this release as well as on the Companys website.

Phase I Eskay Creek Drilling Highlights:

- 10.14 g/t Au, 345 g/t Ag (14.73 g/t AuEq) over 36.85 m 21A (SK-19-170)
- 2.90 g/t Au, 278 g/t Ag (6.60 g/t AuEq) over 57.90 m 21A (SK-19-153)
- 4.14 g/t Au, 151 g/t Ag (6.15 g/t AuEq) over 61.50 m 21A (SK-19-151)
- 7.01 g/t Au, 114 g/t Ag (8.53 g/t AuEq) over 37.89 m 21A (SK-19-160)
- 4.09 g/t Au, 52 g/t Ag (4.78 g/t AuEq) over 59.00 m 21A (SK-19-148)
- 6.34 g/t Au, 42 g/t Ag (6.91 g/t AuEq) over 34.00 m 21A (SK-19-167)
- 8.33 g/t Au, 51 g/t Ag (9.02 g/t AuEq) over 18.45 m 21A (SK-19-164)

Gold Equivalent (AuEq) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. Reported core lengths represent 80-100% of true widths and are supported by well-defined mineralization geometries derived from historical drilling. Grade capping of individual assays has not been applied to the Au and Ag assays informing the length weighted AuEq composites. Processing recoveries have not been applied to the AuEq calculation and are disclosed at 100%. Samples below detection limit are nulled to a value of zero.

21A Zone Continues to Demonstrate Increased Grades and Widths
2019 Phase I drilling within the 21A Zone continues to return both higher Au-Ag grades and thicknesses than expected. The newest infill hole SK-19-170 intersected 10.14 g/t Au, 345 g/t Ag (14.73 g/t AuEq) over 36.85 m (refer to attached section). This drill hole was originally designed to add confidence to the inferred resources; however, the intersection has established both higher grades and greater widths than the surrounding historical drill holes. For comparison, the nearest historical drill hole CA89-078 only intersected 7.16 g/t AuEq over 16.71 m.

It is also important to note that this high-grade mineralization occurs not only in the mudstone but also stratigraphically below the mudstone within intensely sheared, brecciated and hydrothermally altered rhyolites. This potentially indicates the uppermost expression of a previously unidentified synvolcanic feeder structure, which could lead to additional exploration targets.
The ongoing 2019 Phase I drilling program has been and continues to be very successful in that the Companys drill intercepts continue to predictably validate the geometries and grades defined by the historical drilling, comments Paul Geddes, the Companys Vice President of Exploration and Resource Development. We are also quite encouraged by the improved mineralization widths and gold-silver grades as we infill and upgrade the inferred resources. The 2020 mandate to organically grow the current resource base at Eskay Creek will involve the allocation of approximately 30% of the current drill budget to exploratory step out drilling.

Current Status - Eskay Creek Drilling
Four ground-based drill rigs are currently on site at the Eskay Creek Project. The Company anticipates commencement of the ground based 2020 Phase I infill and exploration drilling program in February.

About Skeena
Skeena Resources Limited is a junior Canadian mining exploration company focused on developing prospective precious and base metal properties in the Golden Triangle of northwest British Columbia, Canada. The Companys primary activities are the exploration and development of the past-producing Snip mine and the Eskay Creek mine. In addition, the Company has completed a Preliminary Economic Assessment on the GJ copper-gold porphyry project.

On behalf of the Board of Directors of Skeena Resources Limited,


Walter Coles Jr.
President & CEO


In Europe:
Swiss Resource Capital AG
Jochen Staiger
info(at)resource-capital.ch
www.resource-capital.ch


Qualified Persons
Exploration activities at the Eskay Creek Project are administered on site by the Companys Exploration Managers, Colin Russell, P.Geo. and Adrian Newton, P.Geo. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Exploration and Resource Development, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on its exploration projects.

Quality Assurance - Quality Control
Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently securely stored on site. Numbered security tags are applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by the Companys Qualified Person, Paul Geddes, P.Geo, Vice President Exploration and Resource Development.

Drill core samples are submitted to ALS Geochemistrys analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 1kg is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100ppm are re-analyzed using a 50g fire assay fusion with gravimetric finish. Analysis for silver is by 50g fire assay fusion with gravimetric finish with a lower limit of 5ppm and upper limit of 10,000ppm. Samples with silver assays greater than 10,000ppm are re-analyzed using a gravimetric silver concentrate method. A selected number of samples are also analyzed using a 48 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS) and also for mercury using an aqua regia digest with Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) finish. Samples with sulfur reporting greater than 10% from the multi-element analysis are re-analyzed for total sulfur by Leco furnace and infrared spectroscopy.

Cautionary note regarding forward-looking statements
Certain statements made and information contained herein may constitute forward looking information and forward looking statements within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet managements expectations. Forward-looking statements and information may be identified by such terms as anticipates, believes, targets, estimates, plans, expects, may, will, could or would. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


Table 1: Eskay Creek Project 2019 Phase I length weighted drill hole gold and silver composites:

HOLE-ID FROM (m) TO (m) CORE LENGTH (mAU (g/t) AG (g/t)AUEQ (g/t)
)

SK-19-095 14.00 36.50 22.50 1.16 1.22
5


SK-19-096 ASSAYS PENDING
SK-19-097 1.91 5.30 3.39 6.67 6.86
14


SK-19-097 12.80 20.00 7.20 0.48 0.86
29


SK-19-100 ASSAYS PENDING
SK-19-101 ASSAYS PENDING
SK-19-110 26.00 43.80 17.80 1.92 2.32
30


SK-19-113 18.00 25.13 7.13 3.03 15.42
79


INCLUDING 18.00 18.67 0.67 7.74 110.07
75


SK-19-113 29.35 34.35 5.00 0.84 1.49
49


SK-19-113 38.13 50.00 11.87 2.84 3.19
26


SK-19-114 14.00 49.70 35.70 1.76 2.72
72


SK-19-114 53.00 61.95 8.95 0.93 1.15
17


SK-19-118 11.50 38.15 26.65 1.91 13.26
02


INCLUDING 18.40 19.25 0.85 4.52 815.28
07


AND 19.25 20.20 0.95 6.08 614.19
08


SK-19-118 47.03 52.00 4.97 0.72 0.95
18


SK-19-119 26.55 49.00 22.45 1.90 2.48
44


SK-19-127 42.46 47.86 5.40 1.49 13.68
64


SK-19-128 ASSAYS PENDING
SK-19-130 ASSAYS PENDING
SK-19-132 9.89 26.42 16.53 3.47 15.01
15


INCLUDING 15.57 17.00 1.43 7.71 211.60
92


AND 18.50 20.00 1.50 13.40 115.91
88


SK-19-133 ASSAYS PENDING
SK-19-134 0.00 5.50 5.50 1.75 1.90
11


SK-19-134 9.45 20.00 10.55 3.79 4.08
22


SK-19-135 20.00 30.56 10.56 4.21 38.32
08


INCLUDING 22.75 24.50 1.75 8.40 312.65
19


AND 24.50 26.00 1.50 13.30 418.90
20


SK-19-136 22.53 41.25 18.72 2.36 14.85
86


INCLUDING 22.53 24.42 1.89 1.04 1,01014.51


SK-19-137 22.05 30.10 8.05 2.53 915.31
58


INCLUDING 22.05 24.00 1.95 2.43 610.43
00


AND 24.00 26.00 2.00 0.88 914.11
92


AND 26.00 28.00 2.00 1.06 1,55021.73


AND 28.00 29.32 1.32 6.69 1,03520.49


SK-19-138 1.60 14.55 12.95 2.03 2.90
65


INCLUDING 1.60 2.10 0.50 7.06 919.69
47


SK-19-138 22.08 39.00 16.92 1.06 1.57
38


SK-19-140 12.08 24.00 11.92 0.97 1.45
36


SK-19-141 13.10 22.50 9.40 1.94 3.22
96


INCLUDING 17.10 18.60 1.50 5.70 411.62
44


SK-19-142 8.80 27.32 18.52 2.74 14.98
68


INCLUDING 11.64 14.00 2.36 2.55 914.62
05


SK-19-143 38.00 42.61 4.61 3.75 4.40
49


INCLUDING 41.72 42.61 0.89 14.85 116.73
41


SK-19-144 ASSAYS PENDING
SK-19-145 25.15 40.75 15.60 1.69 2.35
49


SK-19-146 18.07 29.92 11.85 1.69 2.10
31


SK-19-147 56.50 127.50 71.00 1.55 2.70
87


INCLUDING 74.00 75.50 1.50 3.89 1,22520.22


AND 90.50 91.25 0.75 1.51 913.74
17


SK-19-147 137.00 155.00 18.00 0.80 0.86
5


SK-19-147 161.00 166.50 5.50 0.74 0.80
5


SK-19-148 62.00 121.00 59.00 4.09 4.78
52


INCLUDING 63.50 65.00 1.50 22.60 22.95
26


AND 77.00 78.43 1.43 17.80 <5 17.80
AND 98.20 99.15 0.95 10.30 314.67
28


AND 101.25 102.00 0.75 11.65 12.24
44


AND 102.00 103.00 1.00 26.20 229.43
42


SK-19-148 135.50 153.00 17.50 1.04 1.14
8


SK-19-148 164.22 168.80 4.58 0.93 1.02
7


SK-19-148 189.80 195.20 5.40 0.67 0.80
10


SK-19-149 63.52 81.50 17.98 5.57 17.87
73


INCLUDING 63.52 65.00 1.48 12.25 12.50
19


AND 65.00 66.50 1.50 9.67 111.35
26


AND 72.00 73.50 1.50 1.77 812.85
31


AND 80.00 81.50 1.50 13.25 13.32
5


SK-19-149 85.65 104.00 18.35 1.86 2.22
27


SK-19-149 113.00 121.50 8.50 0.81 0.92
8


SK-19-149 127.50 143.00 15.50 1.44 1.52
6


SK-19-149 153.00 163.30 10.30 0.74 0.88
11


SK-19-149 180.50 186.46 5.96 0.98 1.09
9


SK-19-150 ASSAYS PENDING
SK-19-151 61.50 123.00 61.50 4.14 16.15
51


INCLUDING 72.00 73.50 1.50 25.60 26.92
99


AND 88.50 90.00 1.50 9.85 10.28
32


AND 96.00 97.50 1.50 9.44 618.47
77


AND 97.50 98.00 0.50 18.90 627.51
46


AND 98.00 99.00 1.00 5.12 410.73
21


AND 99.00 99.68 0.68 46.80 2,59081.33


AND 99.68 101.00 1.32 9.28 718.99
28


AND 101.00 102.50 1.50 5.90 411.23
00


SK-19-151 136.60 162.00 25.40 1.67 1.90
17


SK-19-151 166.50 169.50 3.00 0.83 0.90
6


INCLUDING 173.50 174.50 1.00 24.50 25.79
97


SK-19-151 191.50 195.00 3.50 1.50 1.59
6


SK-19-152 56.75 97.00 40.25 2.15 3.36
91


INCLUDING 73.00 74.00 1.00 1.53 812.53
25


AND 74.00 74.63 0.63 1.44 711.29
39


SK-19-152 138.36 147.00 8.64 1.08 1.15
5


SK-19-152 176.50 182.35 5.85 0.72 0.85
10


SK-19-153 59.60 117.50 57.90 2.90 26.60
78


INCLUDING 66.00 67.50 1.50 5.90 310.14
18


AND 69.50 70.75 1.25 5.79 614.08
22


AND 70.75 72.13 1.38 7.96 717.75
34


AND 72.13 73.50 1.37 10.55 112.80
69


AND 73.50 74.50 1.00 3.91 815.40
62


AND 74.50 75.20 0.70 5.61 411.25
23


AND 81.00 82.50 1.50 9.52 415.41
42


AND 82.50 84.00 1.50 24.80 25.55
56


AND 96.80 98.15 1.35 0.75 811.91
37


AND 99.65 101.00 1.35 2.27 3,66051.07


SK-19-153 127.00 131.50 4.50 1.04 1.12
6


SK-19-153 137.50 143.50 6.00 0.93 0.99
5


SK-19-153 191.18 197.50 6.32 0.69 0.77
6


SK-19-154 51.41 90.50 39.09 2.34 3.06
54


INCLUDING 52.25 53.70 1.45 17.85 <5 17.85
SK-19-154 134.50 142.00 7.50 0.82 0.88
5


SK-19-154 148.60 158.00 9.40 0.70 0.89
15


SK-19-154 163.55 171.70 8.15 1.29 1.44
11


SK-19-155 ASSAYS PENDING
SK-19-156 60.55 65.50 4.95 0.53 0.61
6


INCLUDING 57.75 58.57 0.82 18.40 424.72
74


SK-19-158 ASSAYS PENDING
SK-19-159 60.00 74.00 14.00 3.98 4.08
7


INCLUDING 64.50 65.30 0.80 20.30 20.55
19


SK-19-160 39.11 77.00 37.89 7.01 18.53
14


INCLUDING 44.00 45.00 1.00 14.05 <5 14.05
AND 45.00 46.00 1.00 28.40 28.59
14


AND 46.00 47.00 1.00 53.50 864.90
55


AND 47.00 47.50 0.50 42.60 245.27
00


AND 47.50 48.00 0.50 39.80 <5 39.80
AND 48.00 48.50 0.50 32.80 33.79
74


AND 48.50 49.00 0.50 41.70 144.27
93


AND 49.00 49.50 0.50 36.20 442.13
45


AND 49.50 50.00 0.50 31.50 538.45
21


AND 50.00 50.70 0.70 17.20 321.85
49


SK-19-161 46.00 65.10 19.10 7.95 8.28
25


INCLUDING 49.50 50.50 1.00 55.30 55.49
14


AND 50.50 51.50 1.00 11.35 11.42
5


AND 52.40 53.50 1.10 13.95 15.22
95


AND 53.50 54.50 1.00 26.40 229.19
09


SK-19-161 70.00 91.00 21.00 0.96 46.75
35


INCLUDING 74.00 75.00 1.00 1.12 813.08
97


AND 76.00 77.00 1.00 0.61 2,73037.01


AND 77.00 78.00 1.00 0.36 2,02027.29


AND 81.10 81.60 0.50 1.67 2,98041.40


AND 82.50 83.56 1.06 3.69 916.49
60


SK-19-162 ASSAYS PENDING
SK-19-163 96.50 103.50 7.00 2.36 2.51
11


SK-19-164 81.47 89.50 8.03 1.68 1.83
11


SK-19-164 103.55 122.00 18.45 8.33 9.02
51


INCLUDING 105.50 106.63 1.13 10.35 <5 10.35
AND 106.63 107.25 0.62 26.40 <5 26.40
AND 107.25 107.75 0.50 26.90 <5 26.90
AND 107.75 109.00 1.25 18.65 <5 18.65
AND 109.00 110.00 1.00 14.75 <5 14.75
AND 114.00 115.00 1.00 12.30 12.57
20


AND 118.00 119.30 1.30 7.32 311.99
50


SK-19-165 ASSAYS PENDING
SK-19-166 103.00 117.50 14.50 2.43 3.11
51


INCLUDING 107.00 108.00 1.00 15.45 16.18
55


SK-19-167 82.00 116.00 34.00 6.34 6.91
42


INCLUDING 89.50 91.00 1.50 11.00 11.67
50


AND 91.00 92.00 1.00 26.30 27.33
77


AND 92.00 93.00 1.00 12.60 317.61
76


AND 94.50 96.00 1.50 11.65 12.36
53


AND 96.00 97.00 1.00 12.05 12.25
15


AND 97.00 98.00 1.00 14.50 14.90
30


AND 100.07 101.50 1.43 11.45 11.68
17


SK-19-168 ASSAYS PENDING
SK-19-169 106.65 114.50 7.85 1.33 2.37
78


INCLUDING 108.70 109.20 0.50 1.93 1,00015.26


SK-19-170 92.00 128.85 36.85 10.14 314.73
45


INCLUDING 92.64 93.15 0.51 18.30 18.67
28


AND 93.15 93.65 0.50 18.00 18.20
15


AND 93.65 94.65 1.00 20.40 122.60
65


AND 95.15 95.65 0.50 22.70 3,56070.17


AND 95.65 96.38 0.73 28.70 28.83
10


AND 100.40 102.00 1.60 6.83 210.11
46


AND 106.00 107.00 1.00 25.40 127.93
90


AND 107.00 108.00 1.00 19.05 221.92
15


AND 108.00 109.50 1.50 34.60 846.52
94


AND 109.50 111.00 1.50 22.00 1,03035.73


AND 111.00 112.50 1.50 14.40 622.49
07


AND 112.50 114.00 1.50 4.64 511.64
25


AND 114.00 115.50 1.50 5.13 918.18
79


AND 115.50 117.00 1.50 6.55 615.52
73


AND 117.00 118.50 1.50 12.20 216.15
96


AND 118.50 119.54 1.04 14.50 826.47
98


AND 119.54 121.00 1.46 15.30 320.15
64


Gold Equivalent (AuEQ) calculated via the formula: Au (g/t) + [Ag (g/t) / 75]. Reported core lengths represent 80-100% of true widths and are supported by well-defined mineralization geometries derived from historical drilling. Length weighted AuEQ composites were constrained by geological considerations. Grade capping of individual assays has not been applied to the Au and Ag assays informing the length weighted AuEQ composites. Processing recoveries have not been applied to the AuEQ calculation and are disclosed at 100%. Samples below detection limit were nulled to a value of zero.

Table 2: Mine grid Phase I drill hole locations and orientations:

HOLE-ID EASTING NORTHING ELEVATION LENGTH (M)AZIMUTH DIP
SK-19-091 9910.0 9924.7 993.7 40.0 270.0 -80.0
SK-19-094 9885.7 9941.2 1008.0 45.0 269.3 -80.1
SK-19-095 9907.0 9942.0 989.0 46.0 270.4 -50.2
SK-19-097 9905.2 9960.0 992.6 50.0 269.8 -69.7
SK-19-110 10070.0 10374.0 973.0 53.0 87.7 -88.0
SK-19-113 10101.0 10406.0 984.0 61.0 93.1 -75.0
SK-19-114 10101.0 10406.0 984.0 70.0 120.0 -66.2
SK-19-118 10086.0 10462.0 966.0 61.0 107.3 -65.8
SK-19-119 10086.0 10462.0 966.0 52.0 158.3 -81.1
SK-19-127 10092.0 10492.0 957.0 50.0 329.4 -74.0
SK-19-131 10086.0 10527.0 941.0 40.0 88.1 -51.2
SK-19-132 9896.0 9998.0 994.0 30.0 90.0 -86.7
SK-19-134 9925.0 10852.2 874.6 20.0 330.6 -50.7
SK-19-135 9954.4 10841.0 887.3 42.5 251.0 -54.4
SK-19-136 9954.7 10837.4 886.5 47.0 284.7 -49.8
SK-19-137 9954.7 10840.5 883.3 44.0 295.4 -73.8
SK-19-138 9931.0 10870.3 875.2 39.0 83.5 -79.3
SK-19-139 9931.0 10869.0 873.9 32.0 274.1 -50.0
SK-19-140 9936.0 10781.1 896.9 47.0 338.7 -68.8
SK-19-141 9936.0 10777.8 897.6 47.0 172.7 -75.2
SK-19-142 9952.0 10788.9 893.6 35.0 297.5 -70.5
SK-19-143 9933.1 10746.2 911.1 44.0 117.2 -77.7
SK-19-145 9955.0 10761.6 903.7 50.0 296.6 -74.6
SK-19-146 9955.0 10761.3 902.0 47.0 286.7 -54.2
SK-19-147 9787.0 9874.0 1060.0 170.0 63.2 -67.8
SK-19-148 9787.0 9874.0 1060.0 212.0 82.4 -69.7
SK-19-149 9787.0 9874.0 1060.0 192.2 95.0 -68.0
SK-19-151 9813.0 9981.0 1041.7 197.0 76.2 -69.8
SK-19-152 9813.0 9981.0 1041.7 209.0 94.2 -65.2
SK-19-153 9813.0 9981.0 1041.7 201.0 97.2 -75.4
SK-19-154 9813.0 9981.0 1041.7 200.0 6.8 -68.2
SK-19-156 9765.3 9994.8 1040.3 86.0 204.1 -78.4
SK-19-157 9765.3 9994.8 1040.3 81.0 232.4 -65.1
SK-19-159 9877.9 10073.5 1025.8 80.0 146.3 -85.3
SK-19-160 9877.9 10073.7 1025.3 77.0 118.6 -57.9
SK-19-161 9877.9 10075.7 1026.1 95.0 92.3 -61.8
SK-19-163 9796.4 10027.7 1043.1 125.0 265.7 -89.8
SK-19-164 9871.3 10116.9 1031.0 122.0 155.1 -64.2
SK-19-166 9871.3 10116.9 1031.0 132.0 94.3 -58.5
SK-19-167 9807.3 10021.0 1039.8 116.0 84.6 -70.6
SK-19-169 9905.7 10160.8 1030.1 117.0 95.2 -49.6
SK-19-170 9881.3 10166.5 1030.7 137.0 105.0 -55.3

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